THG said it had legitimate customers for its tickets and Mr Mallon was acting as a collection agent for them in Rio, meeting clients.

THG and PRO10 have denied any wrongdoing over ticket sales.

The Executive Committee of the European Olympic Committees (EOC) held an "extraordinary meeting" on Monday in Frankfurt.

After Mr Hickey's release from prison on Tuesday, it released a statement welcoming the move.

"We believe this was the correct decision as it respects the dignity and fundamental human rights of Mr Hickey," it said.

"The EOC respectfully requests that these rights continue to be respected, including the principle of proportionality when under criminal investigation and Mr Hickey's presumption of innocence.

"The EOC Executive Committee fully respects the Brazilian judicial procedures and it is not our intention to comment on, nor question, any matter relating to a specific legal case in Brazil."

Separately, the OCI also hailed Mr Hickey's release on bail.

"The OCI also welcomes the news that three OCI officials are due to have their passports returned over the coming days and we look forward to welcoming Kevin Kilty, Stephen Martin and Dermot Henihan home shortly," the council added.